European markets led higher by UBS and BP
Trading Floor News October 30, 2012 4:20 PM
<p>- The European markets have been positive, led higher by UBS and BP – Meanwhile volumes remain thin and markets range bound as the Wall […]</p>
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- The European markets have been positive, led higher by UBS and BP
- Meanwhile volumes remain thin and markets range bound as the Wall Street is closed for a second day due to Hurricane Sandy
- UBS announced that they are cutting 10,000 jobs over three years as they wind down their fixed interest business
- UBS is up 14% so far this week
- BP announced better that expected third quarter results and increased their dividend from 8 cents to 9
- Spanish GDP shows country’s output shrank by 1.6% year-on-year, this was after weak retail sales down 10.6% and unemployment remaining stubbornly high at 25%. The outlook for Spain is very weak, however, Prime Minister Rajoy still denies a bailout is needed
- The US markets are scheduled to reopen tomorrow.
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